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deficit reduction is not a priority. martha: the president believes the economy is getting back on track. so let the folks decide. stuart, thank you very much. gregg: according to the cbo. by the end of the year the federal debt held by the american people will be 76% of the gdp and it doesn't get much better from there. martha: the cbo also predicting unemployment will be with us for some time to come. here is the director of the cbo. >> under current law we expect the unemployment rate will remain above 7.5%. that would make 2014 the 6th year in a row with unemployment so high. the longest such period in 70 years. martha: the unemployment rate has been above 7% since december of 2008. and most recent monthly number ticked up from 7.9% from 7.8%. not a good trend. when you look at some of these numbers it makes it a tough argument for economic recovery. but the president remains convinced we are starting to see it. gregg: poverty is up. incomes are down. so the arrow is going the wrong way. in the meantime president oba
deficit reduction is not a priority. martha: the president believes the economy is getting back on track. so let the folks decide. stuart, thank you very much. gregg: according to the cbo. by the end of the year the federal debt held by the american people will be 76% of the gdp and it doesn't get much better from there. martha: the cbo also predicting unemployment will be with us for some time to come. here is the director of the cbo. >> under current law we expect the unemployment rate...
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the deficit goes back up even though we saw it go slightly down. they're calling this the sandwich generation, the people in the middle getting squeezed by taking care of their older parents that can't retire early and taking care of kids. youth unemployment at 11.5. >> more of the middle class becoming the working poor at this point. and the problem is, you can't ask the guy a question. he makes an announcement. you can't ask him a question to get meaningful discussion to hear the other side. when you have the chance, and he was able to have control to put something through, what did he do? we're still hearing blame it on bush. that's old. >> also tax hikes. we'll have the highest spending and highest government spending and highest tax rates. i'm not sure who is can connecte dots to create jobs. >> can i say something? the new normal is the old miserable. the carter era with bandwidth. does he care about the fracturing. the harder american life gets the more he can change it. when we take the bus instead of drive that's progress. he sees shrinkag
the deficit goes back up even though we saw it go slightly down. they're calling this the sandwich generation, the people in the middle getting squeezed by taking care of their older parents that can't retire early and taking care of kids. youth unemployment at 11.5. >> more of the middle class becoming the working poor at this point. and the problem is, you can't ask the guy a question. he makes an announcement. you can't ask him a question to get meaningful discussion to hear the other...
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would that help solve the $16 billion deficit that the usps has? >> there have been other agreements with the other unions who have done the same thing. step to the plate. look at a lower pay for those employees, incoming employees. the unions have done that. >> okay. >> the unions have worked with the postal service to do that. we need to look a the at increasing business, not cutting and slashing but increasing business and have six-day delivery. >> okay. >> and increase our service to the american public. >> ma'am, i'm going to let you go he, but the quinnipiac coal had americans voting four to one in favor of eliminating the first class mail service. we're going to have to leave it there. >> thank you very much. >>> thank you. >>> unions want him out of the job. what's the post master general have to say about that? patrick donohoe will be a special guest at 8 p.m. on fbn. don't miss that. >>> can states force law abiding gun owners to pay for future victims of crime? they're about to try. straight from the congressional budget office, he signe
would that help solve the $16 billion deficit that the usps has? >> there have been other agreements with the other unions who have done the same thing. step to the plate. look at a lower pay for those employees, incoming employees. the unions have done that. >> okay. >> the unions have worked with the postal service to do that. we need to look a the at increasing business, not cutting and slashing but increasing business and have six-day delivery. >> okay. >> and...
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Feb 6, 2013
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is increasingly frustrated by the i insistence that the solution to deficit spending is more taxation. >>> president doesn't believe we have a spending problem. he genuinely believes the government spending causes economic growth. if that were true, the economy today would be thriving. it isn't thriving. >> washington has to deal with its spending problem. i watched them kick the can down 22 years down the road. its time to act. >> had he tahoe roundly dismiss the suggestion to postpone tens of billions of dollars of automatic spending cuts in defense and other departments on march 1st. defense secretary renewed pretty dire warnings today. listen.... >> my greatest concern today is that we are putting our national security at risk by lurching from budget crisis to budget crisis to budget crisis. >> only a couple hours after the speech. senate republicans unveiled their al downsize the government's civilian work force and freeze pay for members of congress. >> this is way of doing it without cutting defenses, without cutting desk and without raising taxes. >> reporter: republicans plan
is increasingly frustrated by the i insistence that the solution to deficit spending is more taxation. >>> president doesn't believe we have a spending problem. he genuinely believes the government spending causes economic growth. if that were true, the economy today would be thriving. it isn't thriving. >> washington has to deal with its spending problem. i watched them kick the can down 22 years down the road. its time to act. >> had he tahoe roundly dismiss the...
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Feb 6, 2013
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we talk about debt and deficit a lot. according to the cbo report our debt is growing, the deficit has come down. what can you tell us about the discrepancy there? >> right. well the federal budget deficit is about half of what it was in 2009, this is the yearly federal expenditures, right stp-t budget battle in washington continues to be a philosophical debate on spending cuts versus taxes, and what the right battle should be to fix our fiscal mess. do we swallow the bitter pill now for cuts and higher taxes to purchase growth in the future or do we reign in taxes. they need to know what to do about 85 billion in spinning cuts. republicans, no surprise said spending cuts only, that's been the mantra. jenna: that's where they are. and we'll see where potentially we meet in the middle. eventually we'll have to do something. big numbers out there. lori, thank you. jon: speaking of spending cuts, big changes could be coming to your mailbox. the u.s. postal service set to scrap saturday mail delivery. but does that cash-strap
we talk about debt and deficit a lot. according to the cbo report our debt is growing, the deficit has come down. what can you tell us about the discrepancy there? >> right. well the federal budget deficit is about half of what it was in 2009, this is the yearly federal expenditures, right stp-t budget battle in washington continues to be a philosophical debate on spending cuts versus taxes, and what the right battle should be to fix our fiscal mess. do we swallow the bitter pill now for...
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they have $3 billion in tax increases against a $845 billion deficit. the point that you make is a good one. the president and he drove this thing in august of 2012. h20122011. he wanted the sequester. read woodward's book in page 226 or some where in this and the deep cuts in defense thinking at the time that would put enough pressure on republicans to get them to agree to higher tax. here we are he wants this thing delayed yet again but to be fair there has been a solution put forward. the house of representatives has not once but twice passed legislation that would replace the sequester and the deep defense cuts which do cause damage to our national security and our readiness with other cuts also in the budget. and that is something that has been rejected by the democrats here on capitol hill and by the president. >> greta: what i don't get is the gal to come out and ask for mother delay. i can't delay showing up for my job and neither canmy american. we can't keep asking for the delays and he says the economy is headed in the right direction. maybe
they have $3 billion in tax increases against a $845 billion deficit. the point that you make is a good one. the president and he drove this thing in august of 2012. h20122011. he wanted the sequester. read woodward's book in page 226 or some where in this and the deep cuts in defense thinking at the time that would put enough pressure on republicans to get them to agree to higher tax. here we are he wants this thing delayed yet again but to be fair there has been a solution put forward. the...
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democrats and republicans have still been able to come together and cut the deficit by more than $2.5 trillion through a mix of spending cuts and higher rates on taxes for the wealthy. >> gretchen: so does that mean more taxes, too? new hampshire senator kelly ayotte joins us now with her thoughts. good morning to you, senator. >> good morning. >> gretchen: so what did you make of the president when he made that comment? >> what i made of it is this, that no question that we need to cut spending, get our fiscal house in order with $16 trillion in debt, but his first answer to everything is, new taxes. when you think about it, what happened in january, he got $600 billion in new revenue. where were the spending cuts? now again he wants to raise taxes. i think it's time for us to cut spending. >> steve: what are the odds he was talking yesterday about how bad the sequester is. the sequester was the idea, it was the invention of the white house! >> well, it was. if you read bob woodward's book, he said it was their idea and by the way, today i'm going to be working with another group of
democrats and republicans have still been able to come together and cut the deficit by more than $2.5 trillion through a mix of spending cuts and higher rates on taxes for the wealthy. >> gretchen: so does that mean more taxes, too? new hampshire senator kelly ayotte joins us now with her thoughts. good morning to you, senator. >> good morning. >> gretchen: so what did you make of the president when he made that comment? >> what i made of it is this, that no question...